The following table discloses movements in the Company’s share options during the six months period ended June 30, 2012:

Share option holders

Date ofshare optionsgranted

Shareoptionschemecategory(1)

Outstandingat beginningof the period

Grantedduring theperiod

Exercisedduring theperiod

Lapsedduring theperiod

Outstandingat end ofthe period

Subscriptionprice

Exercise period

HKD

Directors

Mr Horst Julius Pudwill

16.11.2009

D

600,000

—

—

—

600,000

6.770

16.11.2009 – 15.11.2019

26.11.2010

D

600,000

—

—

—

600,000

8.310

26.11.2010 – 25.11.2020

21.5.2012

D

—

570,000

—

—

570,000

8.742

21.5.2012 – 20.5.2022

Mr Joseph Galli Jr

6.3.2007

C

1,000,000

—

—

(1,000,000)

—

10.572

6.3.2007 – 5.3.2012

16.11.2009

D

1,000,000

—

—

—

1,000,000

6.770

16.11.2009 – 15.11.2019

Mr Kin Wah Chan

16.11.2009

D

1,000,000

—

—

—

1,000,000

6.770

16.11.2009 – 15.11.2019

Mr Chi Chung Chan

16.11.2009

D

1,000,000

—

—

—

1,000,000

6.770

16.11.2009 – 15.11.2019

Mr Stephan Horst Pudwill

16.11.2009

D

1,000,000

—

—

—

1,000,000

6.770

16.11.2009 – 15.11.2019

21.5.2012

D

—

1,000,000

—

—

1,000,000

8.742

21.5.2012 – 20.5.2022

Prof Roy Chi Ping Chung BBS JP

16.11.2009

D

600,000

—

—

—

600,000

6.770

16.11.2009 – 15.11.2019

Mr Joel Arthur Schleicher

16.11.2009

D

400,000

—

—

—

400,000

6.770

16.11.2009 – 15.11.2019

23.5.2011

D

200,000

—

—

—

200,000

9.872

23.5.2011 – 22.5.2021

21.5.2012

D

—

250,000

—

—

250,000

8.742

21.5.2012 – 20.5.2022

Mr Christopher Patrick Langley OBE

16.11.2009

D

400,000

—

—

—

400,000

6.770

16.11.2009 -15.11.2019

23.5.2011

D

200,000

—

—

—

200,000

9.872

23.5.2011 – 22.5.2021

21.5.2012

D

—

250,000

—

—

250,000

8.742

21.5.2012 – 20.5.2022

Mr Manfred Kuhlmann

16.11.2009

D

400,000

—

—

—

400,000

6.770

16.11.2009 – 15.11.2019

23.5.2011

D

200,000

—

—

—

200,000

9.872

23.5.2011 – 22.5.2021

21.5.2012

D

—

250,000

—

—

250,000

8.742

21.5.2012 – 20.5.2022

Mr Peter David Sullivan

16.11.2009

D

400,000

—

—

—

400,000

6.770

16.11.2009 – 15.11.2019

23.5.2011

D

200,000

—

—

—

200,000

9.872

23.5.2011 – 22.5.2021

21.5.2012

D

—

250,000

—

—

250,000

8.742

21.5.2012 – 20.5.2022

Mr Vincent Ting Kau Cheung

16.11.2009

D

400,000

—

—

—

400,000

6.770

16.11.2009 – 15.11.2019

23.5.2011

D

200,000

—

—

—

200,000

9.872

23.5.2011 – 22.5.2021

21.5.2012

D

—

250,000

—

—

250,000

8.742

21.5.2012 – 20.5.2022

Total for directors

9,800,000

2,820,000

—

(1,000,000)

11,620,000

Employees

1.1.2007

C

150,000

—

—

(150,000)

—

10.080

1.1.2007 – 31.12.2011

6.3.2007

C

4,325,000

—

—

(4,325,000)

—

10.572

6.3.2007 – 5.3.2012

20.7.2007

D

200,000

—

—

—

200,000

10.060

20.7.2007 – 19.7.2017

24.8.2007

D

2,060,000

—

(100,000)

—

1,960,000

8.390

24.8.2007 – 23.8.2017

16.10.2007

D

75,000

—

—

—

75,000

8.810

16.10.2007 – 15.10.2017

7.11.2007

D

40,000

—

—

—

40,000

8.088

7.11.2007 – 6.11.2017

23.11.2007

D

500,000

—

—

—

500,000

7.578

23.11.2007 – 22.11.2017

14.1.2008

D

970,000

—

—

(100,000)

870,000

7.566

14.1.2008 – 13.1.2018

17.4.2008

D

1,575,000

—

—

(300,000)

1,275,000

7.780

17.4.2008 – 16.4.2018

14.5.2008

D

40,000

—

—

—

40,000

7.500

14.5.2008 – 13.5.2018

30.5.2008

D

490,000

—

—

(40,000)

450,000

7.546

30.5.2008 – 29.5.2018

1.9.2008

D

150,000

—

—

—

150,000

7.450

1.9.2008 – 31.8.2018

11.9.2008

D

50,000

—

—

—

50,000

7.430

11.9.2008 – 10.9.2018

2.10.2008

D

75,000

—

—

—

75,000

7.068

2.10.2008 – 1.10.2018

1.12.2008

D

100,000

—

—

—

100,000

2.340

1.12.2008 – 30.11.2018

16.11.2009

D

7,080,000

—

(120,000)

(50,000)

6,910,000

6.770

16.11.2009 – 15.11.2019

7.12.2009

D

100,000

—

—

—

100,000

6.790

7.12.2009 – 6.12.2019

21.12.2009

D

225,000

—

(25,000)

(100,000)

100,000

6.350

21.12.2009 – 20.12.2019

28.12.2009

D

30,000

—

—

—

30,000

6.390

28.12.2009 – 27.12.2019

13.9.2010

D

1,050,000

—

(150,000)

—

900,000

7.390

13.9.2010 – 12.9.2020

17.1.2011

D

20,000

—

—

—

20,000

10.436

17.1.2011 – 16.1.2021

16.12.2011

D

100,000

—

—

—

100,000

7.530

16.12.2011 – 15.12.2021

Total for employees

19,405,000

—

(395,000)

(5,065,000)

13,945,000

Total for all categories

29,205,000

2,820,000

(395,000)

(6,065,000)

25,565,000

Notes:

(1)

Scheme C is the share option scheme adopted by the Company on March 28, 2002 and has expired on March 27, 2007. The Company adopted Scheme D on May 29, 2007.

(2)

No option was cancelled during the period.

(3)

The weighted average closing price of the Company’s shares immediately before various dates on which the share options were exercised was HKD9.14.

(4)

The following significant assumptions were used to derive the fair values using the Black-Scholes option pricing model:

Date of grant

Exercise price

Expected life of share options

Expected volatility based on historical volatility of share prices

Hong Kong Exchange Fund Notes rate

Expected annual dividend yield

HKD

For the period ended June 30, 201221.5.2012

8.742

3 years

41%

0.298%

1.5%

The share options are vested in whole or in parts over 3 years from the date of grant.

For the purposes of the calculation of fair value, no adjustment has been made in respect of share options expected to be forfeited due to lack of historical data.

The Black-Scholes option pricing model requires the input of highly subjective assumptions, including the volatility of share price. Because changes in subjective input assumptions can materially affect the fair value estimate, in the directors’ opinion, the existing model does not necessarily provide a reliable single measure of the fair value of the share options.

The closing price of the Company’s shares on the date of grant was HKD8.57 per option.

Expected volatility was determined by using the historical volatility of the Company’s share price over the previous 3 years. The expected life used in the model has been adjusted, based on management’s best estimated, for the effects of non transferability, exercise restrictions and behavioural considerations.

The Group recognised a total expense of USD226,000 for the six months period ended June 30, 2012 in relation to share options granted by the Company.

The fair value of the share options granted in the period was HKD2.11 per option.